Danske Bank A S Purchases 7,091 Shares of GE Vernova Inc. $GEV

Key Points

• Danske Bank increased its GE Vernova stake by 3.7% in the second quarter, purchasing 7,091 shares to hold 198,552 shares valued at approximately $233.3 million.
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year and above estimates, but earnings per share of $2.47 missed the $3.17 consensus forecast.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $1,133.15, although some firms recently downgraded the stock; CEO Victor Abate also sold $4.57 million worth of shares.

Danske Bank A S increased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 198,552 shares of the company's stock after purchasing an additional 7,091 shares during the quarter. Danske Bank A S owned approximately 0.07% of GE Vernova worth $233,271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Onyx Bridge Wealth Group LLC boosted its stake in GE Vernova by 1.3% in the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company's stock valued at $635,000 after acquiring an additional 9 shares during the last quarter. Red Door Wealth Management LLC raised its position in shares of GE Vernova by 0.6% during the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company's stock valued at $1,548,000 after acquiring an additional 10 shares during the last quarter. Advance Capital Management Inc. lifted its stake in shares of GE Vernova by 2.2% in the 1st quarter. Advance Capital Management Inc. now owns 461 shares of the company's stock valued at $402,000 after purchasing an additional 10 shares during the period. Alpha Financial Partners LLC lifted its stake in shares of GE Vernova by 2.0% in the 1st quarter. Alpha Financial Partners LLC now owns 514 shares of the company's stock valued at $449,000 after purchasing an additional 10 shares during the period. Finally, Sandy Cove Advisors LLC lifted its stake in shares of GE Vernova by 2.6% in the 2nd quarter. Sandy Cove Advisors LLC now owns 389 shares of the company's stock valued at $457,000 after purchasing an additional 10 shares during the period.

GE Vernova Stock Down 0.0%

GEV stock opened at $956.69 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $1,042.72 and a two-hundred day moving average price of $969.61. The company has a market cap of $254.80 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 3.41 and a beta of 1.21. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same period in the previous year, the company posted $1.86 EPS. The company's quarterly revenue was up 21.9% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Sanford C. Bernstein lifted their price objective on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Zacks Research cut shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Guggenheim upped their target price on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley downgraded shares of GE Vernova from an "overweight" rating to an "underweight" rating in a research note on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,133.15.

Insider Transactions at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.21% of the company's stock.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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